CHFJPY Down 1 Pips in Last Hour, Moves Down For the 2nd Day In A Row; Nears 200 Day Moving Average

Hourly Update

(Last Updated September 15, 2021 1:16 GMT)

At the time of this writing, CHFJPY’s rate is down -140 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CHFJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHFJPY is down 39 pips (0.33%) since the previous day (opening today near 119.251), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, CHFJPY ranked 35th the previous day in terms of percentage price change. The price chart of CHFJPY below illustrates.

CHFJPY

CHFJPY Technical Analysis

The first thing we should note is that the current price of CHFJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 38.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone down 5 them.